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Melbourne house price fall largest since GFC

Posted on 03 May 2011

Melbourne house prices have suffered the worst start to 2011 of any city, barring flood-ravaged Brisbane, falling at the fastest rate in two-and-a-half years. As households struggle with higher interest rates and soaring prices for petrol, groceries and utilities, official data showed yesterday that house prices fell 2.5 per cent in the three months to March compared with the previous three months.
The result is Melbourne’s biggest house price decline since the height of the global financial crisis in the 2008 September quarter and matches the 2.5 per cent decline in Brisbane in the aftermath of the floods……………………………………….Full Article: Source


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